Eversource Energy (NYSE:ES) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research firms also recently weighed in on ES. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Williams Capital reissued a “buy” rating and issued a $63.00 price target (down from $65.00) on shares of Eversource Energy in a report on Thursday, March 1st. Morgan Stanley cut their price target on shares of Eversource Energy from $62.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, April 2nd. Finally, Wolfe Research raised shares of Eversource Energy from a “market perform” rating to an “outperform” rating in a report on Monday, June 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.54.
ES stock opened at $58.61 on Thursday. The stock has a market capitalization of $18.47 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.12 and a beta of 0.31. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.68 and a quick ratio of 0.61.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.10 billion. Eversource Energy had a net margin of 12.58% and a return on equity of 9.04%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. analysts anticipate that Eversource Energy will post 3.25 EPS for the current fiscal year.
In other Eversource Energy news, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $57.03, for a total transaction of $358,262.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christine M. Carmody sold 21,500 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $57.79, for a total transaction of $1,242,485.00. The disclosure for this sale can be found here. Insiders sold a total of 28,117 shares of company stock valued at $1,619,856 over the last three months. 0.53% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ES. Baird Financial Group Inc. lifted its stake in Eversource Energy by 8.1% during the fourth quarter. Baird Financial Group Inc. now owns 21,502 shares of the utilities provider’s stock valued at $1,358,000 after buying an additional 1,604 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in Eversource Energy by 5.1% during the fourth quarter. First Republic Investment Management Inc. now owns 24,830 shares of the utilities provider’s stock valued at $1,569,000 after buying an additional 1,194 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Eversource Energy by 5.7% during the fourth quarter. OppenheimerFunds Inc. now owns 18,585 shares of the utilities provider’s stock valued at $1,174,000 after buying an additional 1,001 shares in the last quarter. Eaton Vance Management lifted its stake in Eversource Energy by 1.9% during the fourth quarter. Eaton Vance Management now owns 108,223 shares of the utilities provider’s stock valued at $6,838,000 after buying an additional 1,988 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Eversource Energy during the fourth quarter valued at about $1,258,000. 73.78% of the stock is owned by institutional investors.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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